MUMBAI: The BSE benchmark Sensex snapped its nine-session losing streak by gaining 225 points in early trade on Friday on renewed buying on easing of macroeconomic worries in view of a sharp fall in crude oil prices.
Bargain hunting emerged after the last nine days losing streak. The market breadth was strong. PSU OMCs rose as crude oil prices slumped.
Crude oil prices slumped the most in the early trade falling below USD 100 a barrel.
Among the 30-member Sensex pack, 21 stocks, advanced while the rest declined. ICICI Bank, Tata Motors and TCS rose by between 1.48% to 2.99%.
India's state-run Oil & Natural Gas Corp gained 1.25% on reports company will launch a follow-on public offering on July 5, 2011.
HPCL, Indian Oil Corporation and BPCL rose by between 1.6% to 2.35%.
The BSE benchmark Sensex resumed higher at 18,289.78 and shot up further to 18,480.93 before quoting at 18,435.63 at 1015 hours, showing a net gain of 225.05 points, or 1.24%.
The NSE 50-share Nifty also moved up by 57.65 points, or 1.06%, to 5,517.50 from its last close.
toi
Bargain hunting emerged after the last nine days losing streak. The market breadth was strong. PSU OMCs rose as crude oil prices slumped.
Crude oil prices slumped the most in the early trade falling below USD 100 a barrel.
Among the 30-member Sensex pack, 21 stocks, advanced while the rest declined. ICICI Bank, Tata Motors and TCS rose by between 1.48% to 2.99%.
India's state-run Oil & Natural Gas Corp gained 1.25% on reports company will launch a follow-on public offering on July 5, 2011.
HPCL, Indian Oil Corporation and BPCL rose by between 1.6% to 2.35%.
The BSE benchmark Sensex resumed higher at 18,289.78 and shot up further to 18,480.93 before quoting at 18,435.63 at 1015 hours, showing a net gain of 225.05 points, or 1.24%.
The NSE 50-share Nifty also moved up by 57.65 points, or 1.06%, to 5,517.50 from its last close.
toi
No comments:
Post a Comment